Form 4: Berry Global Director Acquires Restricted Stock Units

Robert Allan Steele, a director at Berry Global Group, Inc., acquired 2,092 restricted stock units on November 22, 2024.

Summary

• Robert Allan Steele, a director of Berry Global Group, Inc., was granted 2,092 restricted stock units on November 22, 2024.
• These restricted stock units represent a contingent right to receive one share of BERY common stock each.
• The units were granted under the company's 2015 Long-Term Incentive Plan.
• The restricted stock units will vest in full on the first anniversary of the grant date.
• Shares of BERY common stock will be delivered to Mr. Steele within 60 days following the vesting date.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of granting restricted stock units to a director, which is generally viewed positively as it aligns interests. There are no negative implications.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The restricted stock units will vest one year from the grant date, and shares will be delivered within 60 days of vesting.

Industry Context

This is a standard practice for incentivizing and aligning the interests of company directors with shareholders through equity-based compensation.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice across publicly traded companies, including those in the packaging and manufacturing sectors.
• Companies like Amcor and Sealed Air also use similar equity-based compensation plans for their directors.
• The vesting period of one year is also typical for such grants, aligning with industry norms for long-term incentives.

Stakeholder Impact

• Shareholders may view this positively as it aligns the director's interests with the company's long-term performance.
• The grant of restricted stock units does not have a direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The restricted stock units will vest on the first anniversary of the grant date.
• Shares of BERY common stock will be delivered to the reporting person within 60 days following the vesting date.

Key Dates

Keywords

restricted stock units, insider trading, stock options, equity compensation, BERY, Berry Global Group, director